The Indian stock market opened in the red with more than one per cent slump in the key indices, Sensex and Nifty on Friday. The 30 stock S&P BSE Sensex fell 736.31 points or 1.33 per cent to close at 54,583.97 points.
The broader Nifty 50 of the National Stock Exchange fell 209.75 points or 1.27 per cent to 16,268.35 points. Heavy selling pressure was witnessed in consumer durables, technology, and Information Technology stocks.
In the IT stocks, the Boston Consulting Group slumped 3.83 per cent to Rs 52.75. Wipro fell 3.74 per cent to Rs 457.35. Coforge slipped 3.71 per cent to Rs 3417.80. Consumer durables stocks were under selling pressure. Aditya Birla Fashion and Retail fell 1.45 per cent to Rs 255.40. Voltas slipped 1.34 per cent to Rs 985.80. Whirlpool closed 1.33 per cent down at Rs 1557.20.
None of the 30 stocks that are part of the benchmark Sensex closed in the positive. In the closing session on Thursday, the Indian stock markets’ key indices had snapped four days of losing run as the Sensex and Nifty rallied by nearly 0.8 per cent led by strong buying support in Reliance Industries.